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Tag: Nordstrom Stock

  • Nordstrom (JWN) Stock Moves Up On Strong Growth Signals

    Nordstrom (JWN) Stock Moves Up On Strong Growth Signals

    On the US stock charts today, Nordstrom, Inc. (NYSE: JWN) shares are seeing a significant increase. JWN stock is witnessing a 4.59% rise in the most recent pre-market session, trading at $22.11. This significant increase comes after the business revealed its excellent second-quarter financial results, which show robust growth and a promising future.

    Performance Highlights

    Nordstrom recorded net earnings of $122 million, or $0.72 in earnings per diluted share (EPS). The business also reported profits before interest and taxes (EBIT) of $190 million.

    The timing of the company’s Anniversary Sale, which moved from the third to the second quarter by one week, contributed significantly to the increase in net sales, contributing almost 100 basis points in comparison to 2023.

    The categories with the highest growth rates—beautiful, sporty, and home—benefited most from the Anniversary Sale. Strong client participation and favorable comments about the product variety, shopping experience, and level of service were received throughout the sale, which lasted one extra day into the third quarter.

    Strategic Expansion and Dividend Declaration

    In keeping with its stellar financial results, Nordstrom announced a $0.19 quarterly cash dividend per share. Investors who were in good standing on September 3, 2024, could expect to receive their dividend on September 18, 2024.

    In addition, Nordstrom said that it is planning to develop a new Nordstrom Rack in Surprise, Arizona, which is expected to open in the fall of 2025, as part of its expansion efforts. This new store, which is situated in Prasada North, a well-liked shopping area with retailers like Target and Starbucks, will provide clients with an extensive selection of high-end products at affordable costs.

    Expanding Presence in Arizona

    Customers’ overall shopping experience will be enhanced by the new 26,000-square-foot Nordstrom Rack, which will provide convenient alternatives including online order pickup and easy returns.

    With this acquisition, Nordstrom (JWN) will be able to expand its presence in the Phoenix area, where it now employs 1,295 people between its one Nordstrom store and its eleven Nordstrom Rack locations. It is projected that the expansion would meet the needs of the growing population as well as further solidify Nordstrom’s economic dominance in Arizona.

  • Nordstrom, Inc. (JWN) Surges on Third Quarter Surprise Earnings Beat

    Nordstrom, Inc. (JWN) Surges on Third Quarter Surprise Earnings Beat

    Nordstrom was highly affected by the COVID-19 pandemic during the year. However, the third quarter earnings surprise has attracted investors. 

    Nordstrom, Inc. (JWN) is ending the year on a high after suffering heavily from the global pandemic. Over the past month, JWN stock has soared over 110% as the investors step in seeing future growth.

    JWN shares surged on the unexpected Q3 results. The stock surged from $24.55 from the previous close to the day’s high of $29.54 on Thursday. At close, JWN was trading at $27.41 up by 11.65%.

    This marks the stock price jumping from $12.58 on Oct. 27 to $29.54, showing a more than double increase.

    Recently, Nordstrom posted its third quarter 2020 results which came as a surprise. The quarterly EPSimproved to $0.34 per share beating the $0.07 loss projected by analysts. This was the first time that the company has exceeded its EPS in the last four quarters.

    Moreover, the company recorded a sales decline of 16% up from the prior quarter decrease of 53%. As the situation is getting better, the company is gradually recovery from its sales losses.

    On Tuesday, the CEO of the company, Erik Nordstrom noted that their ability toturn things around with financial flexibility, early during the pandemic, was the main reason that helped them to increase their operating profit to $100 million. The cash flow also improved to more than $150 million in Q3 2020.

    Erik also commented that online sales had stronger growth with the shutdown of its physical stores. The online sales during Q3 were $1.6 billion, reflecting a total of 52% of Nordstrom’s business.

    The revenue was $3.09 compared to $3.67 in the same quarter a year ago. While, the net income was $53 million, down from $126 million in Q3 2019.

    One of the main reasons that leveraged the third quarter results going up was the shifting of big anniversary sale from Q2 to Q3. This helped the digital sales to increase 37% from the prior year.

    The management addressed that noted an increase in the purchase of activewear, beauty products, and home goods during the quarter. The customers are buying more cloths and accessories online during the pandemic.

    The CFO, Anne Bramman updated the outlook for the ongoing quarter. She highlighted that the sales are expected to decline to the low 20-percentage range for the fourth quarter of 2020. Still, the company forecasted a positive operating cash flow. The outlook remains uncertain due to the unsettled pandemic.